MIRA INFORM REPORT

 

 

Report No. :

498508

Report Date :

21.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AQUA LOGISTICS PTE LTD

 

 

Registered Office :

2, Bukit Batok Street 24, 02-09 Skytech, 659480

 

 

Country :

Singapore

 

 

Date of Incorporation :

31.03.1995

 

 

Com. Reg. No.:

199502234E

 

 

Legal Form :

Exempt Private (Limited By Share)

 

 

Line of Business :

The subject is principally engaged in the manufacturing of doors, hatches, windows, scuttles and its related products, trading of marine equipment.

 

 

No. of Employees :

5 [2018]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

 

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Singapore

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.

 

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.

The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

 

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

199502234E

COMPANY NAME

:

AQUA LOGISTICS PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

31/03/1995

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

2, BUKIT BATOK STREET 24, 02-09 SKYTECH, 659480, SINGAPORE.

BUSINESS ADDRESS

:

BLOCK 2 BUKIT BATOK STREET 24, SKYTECH #02-09, 659480, SINGAPORE.

TEL.NO.

:

65-65665166

FAX.NO.

:

65-65666303

EMAIL

:

AQUALOG@SINGNET.COM.SG

WEB SITE

:

AQUALOGISTICS.COM.SG

CONTACT PERSON

:

CHEW BOON PIN ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

MANUFACTURING OF DOORS, HATCHES, WINDOWS, SCUTTLES AND ITS RELATED PRODUCTS, TRADING OF MARINE EQUIPMENT

ISSUED AND PAID UP CAPITAL

:

300,002.00 ORDINARY SHARE, OF A VALUE OF SGD 300,002.00 

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

5 [2018]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

UNKNOWN

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is an exempt private company whose shares are not held by any corporate body and has no more than 20 shareholders who are all natural persons. An exempt company is a type of private limited company. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, suing or be sued by other companies.

An exempt private company with an annual turnover of ≤ SGD10 million, or total assets ≤ SGD10 million or number of employees ≤ 50 (meet at least 2 criteria for immediate past two financial years) are exempted from statutory auditing requirements. The Subject is not required to have their accounts audited. However, the Subject will prepare unaudited accounts for purposes of AGMs and filing with Registry Office if it is unable to meet all its obligations as and when they fall due.

An exempt private company with an annual turnover of more than SGD10 million, or total assets more than SGD10 million or number of employees more than 50 (meet at least 2 criteria for immediate past two financial years) are required to file the audited financial.

The subject is principally engaged in the (as a / as an) manufacturing of doors, hatches, windows, scuttles and its related products, trading of marine equipment.

 

Share Capital History

Date

Issue & Paid Up Capital

20/03/2018

SGD 300,002.00

 

The major shareholder(s) of the Subject are shown as follows :


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

CHEW BOON PIN +

48, LAKESIDE DRIVE 13-22, THE LAKEFRONT RESIDENCES, 648305, SINGAPORE.

S1150003Z

300,000.00

100.00

CHEW LAY SONG +

665B JURONG WEST STREET 64 09 - 172, 642665, SINGAPORE.

S1526095E

2.00

0.00

---------------

------

300,002.00

100.00

============

=====

 

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

CHAN HWEE PING

Address

:

606, HOUGANG AVENUE 4, 07-169, 530606, SINGAPORE.

IC / PP No

:

S1284083G

Nationality

:

SINGAPOREAN

Date of Appointment

:

22/04/1995



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199502234E

AQUA LOGISTICS PTE LTD

Director

22/04/1995

0.00

-

-

2010

-

20/03/2018

2

198104391R

B & LEE ELECTRONICS ENGINEERING PTE LTD

Secretary

31/12/1997

0.00

-

-

-

-

09/06/2015

3

199206831N

BAN TECK HIN PTE LTD

Secretary

29/12/1992

0.00

-

-

2010

-

23/03/2017

4

198802360Z

BOR CHI (SINGAPORE) PTE LTD

Secretary

30/11/2002

0.00

-

-

2010

-

17/12/2012

5

200700180Z

FIREPRO BUILDING SYSTEMS PTE. LTD.

Secretary

27/07/2007

0.00

-

USD34,802.00

2014

Disolved

(05/06/2015)

26/04/2016

6

198301435R

FONG TAT MOTOR CO. PTE. LTD.

Secretary

31/12/1989

0.00

-

SGD2,982,111.00

2010

-

19/10/2016

7

199305179W

GATT PTE LTD

Secretary

12/08/1999

0.00

-

-

2010

-

11/12/2012

8

199907888R

GPS MARINE (IMP & EXP) CO PTE LTD

Secretary

15/12/1999

0.00

-

-

2010

-

23/08/2017

9

199504622C

INTERNATIONAL STEEL PTE. LTD.

Secretary

27/09/1995

0.00

-

-

2010

-

29/04/2013

10

197400752N

JOO YONG CO. (PTE) LIMITED

Secretary

14/05/1990

0.00

-

-

-

-

30/05/2013

11

198905445R

PACIFIC ELECTRONICS (S) PTE. LTD.

Secretary

30/01/1990

0.00

-

-

2010

-

13/10/2017

12

199800693G

RVC INTERNATIONAL PTE LTD

Secretary

04/04/1998

0.00

-

-

2010

-

25/04/2013

13

198803735K

SHUN ZHOU HARDWARE PTE LTD

Secretary

28/05/1990

0.00

-

-

2010

-

16/11/2011

14

199902146Z

SONGLILAI TRADING ENTERPRISE PTE LTD

Secretary

17/05/1999

0.00

-

-

2010

-

19/01/2018

15

200918772M

THIAM AIK MANUFACTURING PTE. LTD.

Secretary

15/10/2009

0.00

-

SGD(179,237.00)

2015

-

22/05/2017

 

DIRECTOR 2

 

Name Of Subject

:

CHEW LAY SONG

Address

:

665B JURONG WEST STREET 64 09 - 172, 642665, SINGAPORE.

IC / PP No

:

S1526095E

Nationality

:

SINGAPOREAN

Date of Appointment

:

22/04/1995



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199502234E

AQUA LOGISTICS PTE LTD

Director

22/04/1995

2.00

0.0007

-

-

-

20/03/2018

 

DIRECTOR 3

 

Name Of Subject

:

CHEW BOON PIN

Address

:

48, LAKESIDE DRIVE 13-22, THE LAKEFRONT RESIDENCES, 648305, SINGAPORE.

Other Address(es)

:

APT. BLK 511, BUKIT BATOK STREET 52, #03-209, SINGAPORE 650511

IC / PP No

:

S1150003Z

Nationality

:

SINGAPOREAN

Date of Appointment

:

31/03/1995



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199502234E

AQUA LOGISTICS PTE LTD

Director

31/03/1995

300,000.00

100.00

-

-

-

20/03/2018

2

418801A

PERKASA M&E SDN. BHD.

Director

31/10/1998

0.00

-

MYR(102,170.00)

2016

-

23/02/2018



MANAGEMENT

 

 

1)

Name of Subject

:

CHEW BOON PIN

Position

:

MANAGING DIRECTOR

 

AUDITOR

 

Auditor

:

CHAN HOCK SENG & COMPANY

Auditor' Address

:

N/A

 

COMPANY SECRETARIES


No company secretary was found in our databank. 

 

BANKING


No Banker found in our databank. 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201106242

24/05/2011

N/A

DBS BANK LTD.

-

Unsatisfied

C201106593

02/06/2011

N/A

MALAYAN BANKING BERHAD

-

Unsatisfied

C201106597

02/06/2011

N/A

MALAYAN BANKING BERHAD

-

Unsatisfied

C201109849

10/08/2011

N/A

MALAYAN BANKING BERHAD

-

Unsatisfied

C201301537

29/01/2013

N/A

DBS BANK LTD.

-

Unsatisfied

 

 

CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Products manufactured

:

DOORS, HATCHES, WINDOWS, SCUTTLES AND ITS RELATED PRODUCTS

Goods Traded

:

MARINE EQUIPMENT

 

Total Number of Employees:

YEAR

2018

 

GROUP

N/A

COMPANY

5

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) manufacturing of doors, hatches, windows, scuttles and its related products, trading of marine equipment. 

The Subject supply a wide variety of high quality marine equipment, specializing in the design and manufacture of doors, hatches, windows and scuttles, etc.

The Subject is dedicated to providing the best and most up-to-date equipment, customized to meet all required specifications and regulations requested by their clients.

The Subject's wide range of products include marine hull fittings such as marine windows, accommodation ladder, marine doors, gangway, hatches, manholes, etc. specializing in high quality and heavy duty marine equipment.

They are also proud to be the agent for:

-Hanla IMS (Level Instrumentation, Valve Remote Control System, Ballast Water Treatment System)
-Bohamet (Fire Rated Water Tight Door, Fire Rated Window, Wiper)
-Bergaflex Sunscreen
-Remontowa Hydraulic System (Hydraulic Sliding Door, Hydraulic Cylinder)
-DHP (Heat Exchanger)
-Samjoo Galley Equipment. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-65665166

Match

:

N/A

Address Provided by Client

:

BLOCK 2, BUKIT BATOK STREET 24, SKYTECH 02-09 659480 SINGAPORE

Current Address

:

BLOCK 2 BUKIT BATOK STREET 24, SKYTECH #02-09, 659480, SINGAPORE.

Match

:

YES


We have contacted the Subject's Accountant and its Company Secretary for the latest financial accounts. However they have rejected our request in view of the confidentiality of the documents.

 

Other Investigations


We have contacted one of the staff from the Subject and she provided some information.

The Subject refused to disclose its banker information.


FINANCIAL ANALYSIS

 

An exempt private company with an annual turnover of ≤ SGD10 million, or total assets ≤ SGD10 million or number of employees ≤ 50 (meet at least 2 criteria for immediate past two financial years) are exempted from statutory auditing requirements. The Subject is not required to have their accounts audited. However, the Subject will prepare unaudited accounts for purposes of AGMs and filing with Registry Office if it is unable to meet all its obligations as and when they fall due.

An exempt private company with an annual turnover of more than SGD10 million, or total assets more than SGD10 million or number of employees more than 50 (meet at least 2 criteria for immediate past two financial years) are required to file the audited financial.

Overall financial condition of the Subject : N/A

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2013

2014

2015

2016

2017*

 

Population (Million)

5.40

5.47

5.54

5.61

5.61

Gross Domestic Products ( % )

5.1

3.9

2.2

2.4

3.6

Consumer Price Index

2.4

1.0

(0.5)

(0.5)

0.6

Total Imports (Million)

466,762.0

463,779.1

407,767.9

398,372.0

403,300.0

Total Exports (Million)

513,391.0

518,922.7

476,285.4

468,552.0

466,900.0

 

Unemployment Rate (%)

1.9

1.9

1.9

2.1

-

Tourist Arrival (Million)

15.46

15.01

15.23

16.28

-

Hotel Occupancy Rate (%)

86.3

85.5

84.0

83.1

84.7

Cellular Phone Subscriber (Million)

1.97

1.98

1.99

-

-

 

Registration of New Companies (No.)

37,288

41,589

34,243

35,227

37,395

Registration of New Companies (%)

9.8

11.5

(17.7)

2.9

6.2

Liquidation of Companies (No.)

17,369

18,767

21,384

23,218

22,379

Liquidation of Companies (%)

(5.3)

8.0

13.9

8.6

(3.6)

 

Registration of New Businesses (No.)

22,893

35,773

28,480

27,120

22,148

Registration of New Businesses (%)

1.70

56.30

(20.39)

(4.78)

(18.33)

Liquidation of Businesses (No.)

22,598

22,098

26,116

35,866

24,344

Liquidation of Businesses (%)

0.5

(2.2)

18.2

37.3

(32.1)

 

Bankruptcy Orders (No.)

1,992

1,757

1,776

1,797

1,638

Bankruptcy Orders (%)

14.0

(11.8)

1.0

1.2

(8.9)

Bankruptcy Discharges (No.)

2,584

3,546

3,499

4,359

2,030

Bankruptcy Discharges (%)

37.4

37.2

(1.3)

24.6

(53.4)

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

1.78

4.29

3.04

-

-

Fish Supply & Wholesale

(3.8)

(8.6)

(8.5)

(9.9)

-

 

Manufacturing #

Food, Beverages & Tobacco

97.9

99.4

100.0

103.7

110.3

Textiles

119.5

102.7

100.0

92.4

84.4

Wearing Apparel

334.1

212.6

100.0

83.4

88.2

Leather Products & Footwear

122.0

106.5

100.0

88.8

79.0

Wood & Wood Products

103.0

107.2

100.0

95.0

92.9

Paper & Paper Products

104.4

104.5

100.0

97.3

96.1

Printing & Media

113.8

105.968

100.0

85.1

73.1

Crude Oil Refineries

100.7

92.2

100.0

104.2

113.5

Chemical & Chemical Products

88.4

96.7

100.0

98.9

105.3

Pharmaceutical Products

101.421

109.4

100.0

113.8

96.0

Rubber & Plastic Products

109.497

109.2

100.0

91.4

93.7

Non-metallic Mineral

107.4

90.759

100.0

89.8

72.9

Basic Metals

77.2

99.3

100.0

106.2

108.3

Fabricated Metal Products

107.5

107.757

100.0

93.8

91.3

Machinery & Equipment

109.1

118.2

100.0

80.8

86.1

Electrical Machinery

87.4

97.871

100.0

101.5

111.7

Electronic Components

105.0

105.6

100.0

114.1

151.4

Transport Equipment

111.1

106.68

100.0

101.0

99.5

 

Construction

25.40

22.00

-

-

-

Real Estate

88.5

145.1

-

-

-

 

Services

Electricity, Gas & Water

6.70

6.50

-

-

-

Transport, Storage & Communication

9.80

14.20

-

-

-

Finance & Insurance

3.30

6.00

-

7.40

-

Government Services

6.50

6.30

-

-

-

Education Services

3.10

5.98

-

2.40

-

 

* Estimate / Preliminary

# Based on Index of Industrial Production (2015 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

MANUFACTURING

In the first quarter of 2017, manufacturing output rose by 8.0%, following the increase of 11% in the previous quarter. The robust performance of the sector was underpinned by sustained growth in the electronics, precision engineering and chemicals clusters. For the whole year of 2016, the manufacturing sector grew by 3.6%, a reversal from the 5.1% contraction in the previous year.

The electronics cluster increased by 33% in the first quarter, largely driven by the semiconductors segment, which saw its output surge by 50%. The strong performance of the semiconductors segment can be attributed to the continued recovery in global semiconductors demand, driven in turn by healthy demand in key end markets such as smartphone and automotive applications. At the same time, the other electronic modules & components and computer peripherals segments grew by 9.0% and 1.2% respectively. For the full year of 2016, the electronics cluster expanded by 16%.

Besides, biomedical manufacturing cluster contracted by 7.5% in the first quarter of 2017. Within the cluster, the medical technology segment recorded robust growth of 14%, supported by higher export demand for medical instruments. However, this was outweighed by a 14% decline in the output of the pharmaceuticals segment as the production of active pharmaceutical ingredients fell. For 2016 as a whole, the biomedical manufacturing cluster expanded by 14%, with both the pharmaceuticals and medical technology segments supporting growth.

In the first quarter of 2017, output of the transport engineering cluster fell by 11%, dragged down by the marine & offshore engineering (M&OE) segment. This more than offset expansions in the aerospace (10%) and land (7.0%) segments. The aerospace segment, in particular, was supported by an increase in demand for aircraft and engine maintenance work. For the whole year of 2016, the transport engineering cluster contracted by 18%.

The precision engineering cluster expanded by 19% in the first quarter of 2017, supported by both the machinery & systems (M&S) and precision modules & components (PMC) segments. Output in the M&S segment rose by 24 % on the back of robust export demand for semiconductor manufacturing equipment. Meanwhile, the PMC segment grew by 11% due to an increase in the production of dies, moulds, tools, jigs & fixtures, optical instruments and metal precision components. In 2016, the precision engineering cluster’s output rose by 0.8%.

Moreover, output of the general manufacturing industries shrank by 6.7% in the first quarter 2017. In particular, the output of the miscellaneous industries segment fell by 12% due to a decline in the production of fibre glass products and construction-related products & materials. The printing segment contracted by 21%, as demand for commercial printing remained weak and the food, beverage & tobacco segment expanded by 3.2%, supported by healthy export demand. For the full year 2016, the general manufacturing industries contracted by 2.5%.

The output of the chemicals cluster increased by 2.9% in the first quarter of 2017 supported primarily by growth in the petrochemicals (9.8%) and specialty chemicals (2.9%) segments. Growth in the petrochemicals segment was partly the result of a low base effect as production levels a year ago were weak due to plant maintenance shutdowns. On the other hand, the other chemicals segment contracted to 5.6% on account of a lower level of production of fragrances. For the full year 2016, the chemicals cluster contracted by 0.9 per cent. This was due to a decline in the output of the petrochemicals segment arising from major plant maintenance shutdowns, even as the output of all other segments expanded.

OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1995, the Subject is an Exempt Private company, focusing on manufacturing of doors, hatches, windows, scuttles and its related products, trading of marine equipment. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. With an issued and paid up capital of SGD 300,002 contributed by individual shareholders, the Subject may face difficulties in its attempt to further expand its business in the future. Thus, the Subject should put more efforts on its business to gain higher market share while competing aggressively in the market. 

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 5 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

No financial accounts are available for analysis. As such, we are not able to comment on the Subject's current financial standing. 

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market. 

In view of the above, we only recommend credit be proceeded to the Subject with guarantee.



FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office. 

 




 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.20

UK Pound

1

INR 91.49

Euro

1

INR 80.46

SGD

1

INR 49.46

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.